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Legal framework

Belarus realizes that today the implementation of investment projects is needed and provides investors with essential government support and incentives.

To improve the investment environment in the country, in January 2014 the Law “On Investment” entered into force. The Law is to attract investments into the Belarusian economy by guaranteeing protection of investors’ rights and interests, as well as their equality, disposal of profits made from investment and protection against interference in investors’ private affairs.

On the territory of the country investments could be made by:

  • establishing a profit-making organization;
  • buying real estate or creating or building the units of real estate, except as provided by law;
  • buying the rights for intellectual property;
  • buying stocks and shares of authorised capital or profit-making organizations;
  • signing a concession agreement;
  • other ways that are not prohibited by the law.

The key feature of the Law “On Investment” is the regulation that provides investors with non-limited ways of investing and funding sources, as well as amount of finance and types of organisations.

The legislation of the Republic of Belarus guarantees:

  • investors' right to appeal to state courts for protection of their rights, as well as to international arbitration bodies, International Centre for Settlement of Investment Disputes (ICSID);
  • protection from nationalization by the Act on the procedure and conditions for the nationalization of the investment property;
  • the right to bring to the Republic of Belarus foreign individuals for labor activity under employment contracts, including not having a permit for permanent residence in the Republic of Belarus;
  • the right to provide investors with land in use, rent, property in accordance with the laws of the Republic of Belarus on the protection and use of land;
  • the principle of non-arbitrary interference in private affairs, the principle of equality of investors when making investments, the rule of law, the principle of protection of violated rights;
  • the right to establish on the territory of the Republic of Belarus profit organizations with any investment in any organizational and legal forms according to the legislation of the Republic of Belarus and from any sources of funding.

Taking into consideration the current needs, Belarus supports investors and provides them with incentives:

  • on the territory of medium, small towns, in the countryside (if doing business on the territory of the Republic of Belarus, except the following towns and cities: Baranovichi, Bobruisk, Borisov, Brest, Vitebsk, Gomel, Grodno, Zhodino, Zhlobin, Lida, Minsk, Moguilyov, Mozyr, Molodechno, Novopolotsk, Orsha, Pinsk, Polotsk, Rechitsa, Svetlogorsk, Slutsk, Soligorsk);
  • at the High-Tech Park;
  • on the territory of free economic zones;
  • in the case of entering into an investment agreement with the Republic of Belarus.